Circle Stock Surges 16% on May 12 as Arc Token Presale Raises $220M

GateNews
ARC-3.04%

According to Park Sang-hyuk, editor-in-chief of Digital Asset, Circle stock surged 16% on May 12. The gain followed mixed Q1 earnings: while revenue fell short of market expectations, the company improved EBITDA and other key metrics. Arc, a Layer 1 blockchain, raised $220 million through its token presale, contributing to investor sentiment. Circle’s Q1 revenue was largely driven by U.S. Treasury interest income from USDC reserves, representing approximately 94% of total revenue.

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